Payout Request

Starting immediately, all seller payouts on Novelship can be  requested once your item has been successfully authenticated. This means you now have full control of your sale payouts and when to receive them in your registered bank account.

To request your payout once it is ready, simply navigate to the Payout Request page, you will see a section titled ‘Payout Amount Ready’. This is the value you can currently withdraw from your account.

Here, you will see the ‘REQUEST PAYOUT’ button. Selecting this button will initiate the payout process. Please note that you can only request to withdraw the full amount of ‘Payout Amount Ready’.

Payout Methods

Novelship now offers two methods for receiving your payout.

1. Normal Payouts
2. Early Payouts

Normal Payouts are pre-selected by default, and they cost less. Early Payouts are quicker, and they will require an additional 1% of the Payout Amount as processing fee.All options must be requested by the account owner. 

The table below shows the difference in Payout Fee for  the Normal and Early Payout Payout option.  

You may choose to accumulate your payout amount for as long as you deem necessary, until you wish to request for a payout.

To access your Payout Request page on mobile:

1. Login to your Novelship account.
2. Select the menu on the upper left corner of your screen.
3. Look for ‘Payout Request’ on the left panel.

To access your Payout Request page on desktop:

1. Login to your Novelship account.
2. Go to ‘My Account’ on the upper right corner of your screen.
3. On your profile, look for ‘Payout Request’ on the left panel.

Please note all payouts must be requested to be received.

Request Your Payout

Normal Payout Method

Application Period

• The application period is the time frame in which you can request your payout. It is a 7-day period starting on Monday and ending on Sunday every week following Singapore Local Time.

Deadline

• The deadline is the last day of the application period.
• If you request your payout after the deadline, your payout will be processed together with the other sellers' payouts in the next Normal Payout batch.

Transfer Date

• Payout transfers will be initiated every Wednesday on the second week after the deadline of the application period you belong to. Note: If Wednesday is a public holiday, the payout will be automatically initiated on the next working day.
• This means if your item is successfully authenticated on a Thursday (19th of May 2022), and you request for a normal Payout on the same day, your payout will be transferred by Wednesday (1st of June 2022).

Estimated Payout Arrival Date

• Once transferred, you can expect your payout to be reflected in your bank account within 3 to 5 days after the payout processing date. 
• Do note that the Estimated Payout Arrival Date will vary depending on your bank’s processing timeline and your selling country.

Below is a scenario timeline of a Normal Payout request:

Early Payout Method

• Looking to get your payout more quickly?

• Expedite the payout process at any time for an additional fee of 1% of your Payout Amount.

• Once requested, the payout will be transferred within 3 working days from the Payout Request Date following Singapore Local Time.

• Expect your payout to be received within 3 to 5 days after the Transfer Date. 

• Please note the Estimated Payout Arrival Date will vary depending on your bank’s processing timeline and your country.

Early Payout Example:

Note: All payout balances will be reflected in Payout Amount Ready once your items have been authenticated successfully.  Payout can only be requested in full amount. When there is no available payout balance for request, you will not be able to request for payout.  Make sure to fill out your correct bank details to avoid payout bounce, payout to the wrong account, or delays with payout processing. You may refer to our guide here.

Additionally, some payouts will be processed via Wise. Please make sure to respond to their email within 24 hours to complete the transfer.